Credit: Askar/Adobe Stock
Two brokerage units of investment firm Robinhood Markets have agreed to pay $45 million in combined civil penalties to settle a range of SEC violations arising from their brokerage operations, including one stemming from a 2021 data breach that exposed millions of customer names and emails.
The violations stem from numerous failures related to trading activity reporting, cybersecurity practices, recordkeeping, filing timely reports of suspicious activity and customer communication, according to SEC acting director Sanjay Wadhwa in a statement.
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